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was in office, u.s. gdp was at 3.9%. under president reagan, it was at 3.4%, and fdr had a gdp rate of 8.4% during that time that he was in office. compare that with the forecast of 2.3% for our economy in 2013, and the anemic 1.7% that we saw in the most recent quarter. now kevin hassett is an economic adviser to mitt romney, he's the author, one of the authors of this 12 million jobs in four years claim. very patient man because he keeps coming back to discuss this with me. kevin, we have been down this road twice -- >> you'll get it right sooner or later. >> fair enough, that's why we talk about it. we've been down this road twice before on this show and you haven't given me more than generalities as to how mitt romney n an economy that is expected to go 2.3% in his first year in office, gets anywhere close to these job creation numbers. martin feldstein just said we cannot put a dent in job creation unless we have higher economic growth. >> sure. well, i think that the higher economic growth is absolutely the key, and if you go back to what stephanie cutter said, she said, you know,
right now. >>> you are not happy. you're taking it out on the u.s. economy. welcome to "your money." the u.s. economy is barely growing. now this is about gdp. don't change the channel. gdp, gross domestic product is important. it is the broadest measure of the value of everything we produce as an economy. and as those bars go up, we feel better. now this week we learned that in april, may and june the u.s. economy grew at a rate of just 1.7%. that means as an economy, we produce 1.7% more value than we did in the same period a year ago. that and $4 will get you a cup of coffee. what that doesn't tell you or me is how americans are feeling about the economy and how you're feeling decides whether or not this economy is going to get weaker or stronger. so i have compiled some numbers on the five economic indicators that have the greatest effect on you. think about this as the real feel of the economy. you can read about it in my column in the current issue of "money m "money" magazine. i've used government numbers to score economic performance in that time between one and ten. one in
gives u.s. infrastructure an overall grade of d. roads and businesses need to be repaired, we need new school buildings, updates on our air traffic control systems and more internet access. but before we talk about doing any of that, we need to address our energy situation. ali just told you that the candidates have plans for making america more energy independent. but what may be even more important is fixing the system that gets that energy to your house, to your business, or to your car. last year the average u.s. household spent $368 a month on gas. that's up almost $90 a month since 2010. the average electric bill was over $110 a month. that's also up from the month before. what's behind the rise? here's what moves gas. 10% of the cost comes from crude oil. ilts the main reason for all the price fluctuations at your local gas station. 12% are taxes, refining 15% and crude oil is 65%. what goes into making it? 48% is produced by combusting coal, 22% from natural gas. 20% is made by nuclear power plants. 6% is hydropower. 3% is renewable sources like solar and wind, and only 1% come
in that critical debate,s can coming up in a couple of weeks is say, look, i'm not as stylish as barack obama but i've got a plan. i know how to create jobs and this guy's failed. he hasn't done that. >> there's feeling your pain and there's fixing your pain. there are a lack of specifics from both of these candidates, frankly, about what the next four years is going to look like. what do we need to hear from them that tells us they're going to fix the fiscal cliff and the spending in this country? >> it's hard to ask them to give specifics when the voters don't want to hear it. when you look at what -- >> why don't they want to hear it? because it's going to hurt? >> yeah. it's sort of, well, what has to happen to our taxes if the government's borrowing so much? they have to go up. but not mine, right, somebody else's taxes have to go up or some program i want has to change. and nobody want that is. that's why the fiscal cliff is coming up because they can't agree on what to do. of course they don't want to be specific. they want to have everyone think they're going to help them when at the end of
in this economy. let's start with housing. forget the silver lining, it's the gold lining around the s and l clouds. it showed home sales went up 1.6% in july. that's a positive sign that they went up and they were up in 28 major markets in the united stes. they showed a 9% increase in september, and our own polling shows that two-thirds of americans think that economic conditions are going to be good a year from now. clearly, no one is all that concerned about the economic storm i've been telling you about. congress has done nothing to head off the fiscal cliff coming in january. many of you tweak me saying, i'm fearmongering and that they'll get to it after the election. but here's what they're gambling with. $7 trillion in tax hikes scheduled to start at the beginning of the year. the white house estimates that a typical middle class family of four would see their tax bill increase by $2,200 in 2013. jessica, president obama could win, congress could come back with the same composition is has now. what does the president do between election day and the end of the year to protect americans
rate cd. ally bank. your money needs an ally. >>> we are getting a fuzzy picture of a u.s. economy that cannot get its footing. consumers are feeling more upbeat and an improvement in housing probably has a lot to do with that. we just talked about the threat of the fiscal cliff, the u.s. centered storm, but we cannot ignore the head winds coming from europe. joining me now to debate this topic is richard quest in london, host of "quest means business" on cnn international. richard, today's q and a question is, will europe derail a u.s. recovery? i'll go first this time. give me 60 seconds on the clock starting right now. richard, the answer is categorically, absolutely yes. the storm hanging over europe just won't go away and each day that it stays there is another day that europeans who have been among the biggest and best consumers of u.s. produced goods and services are buying fewer and fewer of them. despite two years of bad governance and poor economic decision making in europe, americans are somehow weirdly feeling better about their own economy. richard, evidenced by this w
>>> that economic storm i've been telling you about is still there, still approaching u.s. shores and still able to do a lot of damage to you. i'm ali velshi. this is your money, and as long as you won't be told the truth about the economy, i will tell you. they want to tell you 12 million jobs will magically appear if you put one of them in the white house. what i want is for them to level with you, because you could vote for someone that promises sunshine in america in the face of an approaching economic storm they may not be able to stop. the storm clouds are coming from europe, a continent still in recession that can't afford to buy american products and services. that storm has reached asia where factories that made exports for europe continue to shut down. it's slowing things down here in america. last month america lost 15,000 manufacturing jobs. there's only so much washington can do about that storm, but with some real work, they could help avert the storm that's being created in the nation's capit capitol. that second storm started a year ago when the president and congr
Search Results 0 to 19 of about 20 (some duplicates have been removed)